Sold Little Italy Income Property | 66 Montrose Avenue
Just the Facts
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Price:
$899,000
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Status:
Sold
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# Beds:
5
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# Baths:
3
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Neighbourhood
Little Italy
About the Property
WELCOME HOME.
Located on one of the best streets in Little Italy and steps from Trinity Bellwoods Park, this character-filled home is a solid turnkey investor opportunity, or a rare chance to live in one of the city’s best neighbourhoods…and let your tenants pay your mortgage!
Classic Little Italy Victorian with 3 self-contained units, each with laundry; 200 amp service; laneway garage parking and backyard garden. The two-floor owner’s suite is complete with a sunny deck for BBQs and a third floor loft master bedroom.
Upper Suite 2nd/3rd floor
- Renovated 2 bedroom apartment with hardwood floors throughout the 2nd floor
- Spacious loft master bedroom with plenty of storage
- Walk-out to private deck from kitchen
- Ensuite laundry
- Currently vacant – $2,200 monthly rent potential
Main Floor Suite
- Upgraded 2 bedroom apartment with spacious kitchen and living area
- Walk-out to backyard garden and garage
- Ensuite laundry
- Currently leased at $1,850 per month until January 2014
Basement Suite
- One bedroom apartment
- Ensuite laundry
- Currently leased at $1,100 per month until March 2014
Steps from Trinity Bellwoods Park, 24-hour public transit and the best of Little Italy.
Little Italy: The Neighbourhood
Lined with trendy restaurants, martini bars and cafes, Little Italy‘s College Street has been cool for more than a decade. On summer evenings thirty-somethings fill the streets, hopping from low-key restaurants to hip bars to live music venues like The Mod Club and Orbit Room. It’s awesome–with a minimum of attitude.
Trinity-Bellwoods–probably the city’s best urban park–is less than a block away, with an off-leash dog bowl, community centre and year-round events. Still want more? The vibrant Ossington strip is only a few blocks further, with more hipster restaurants and nightlife options than you can count. Honestly, could there be a better location?
Want to know more? Check out our Little Italy Infographic for the whole story.
66 Montrose Income Projection
Projected Annual Income $61,800
Annual mortgage principal + interest* $43,128
Annual Expenses**
- Water/Sewage $1,008
- Hydro and Gas $3,228
- Taxes $ 3,601
- Estimated Property Insurance $1,019
Estimated Annual Cash Flow: $9,816
Assumptions
* 20% downpayment, 25 year amortization, 3.5% interest rate
** Expense estimates reflect 2012 actual expenses but of course, are subject to change from year to year. Renovations, maintenance and any applicable income/capital gains tax not included in calculation.
NB: Estimates and projections are provided for informational purposes only and Buyers should do their own due diligence.
